“…Senior management’s biggest concern is not over the firm's fourth-quarter results, but whether revenue from investment banking and trading will begin to recover in the months to come -- and if that recovery is enough to offset the losses that it will have to endure because of financial reform that has forced Wall Street to curtail and exit once-profitable businesses, Foxbusiness writes.
With that, senior executives at Morgan Stanley are spreading the word inside the firm that the job cuts may not be over and that by June job losses could total as much as 5,000, including those already made, said one person with direct knowledge of the matter. Before the latest round of cuts, Morgan Stanley employed approximately 60,000 people.
A Morgan Stanley spokeswoman would not deny that further job cuts might be coming. “We are done cutting for now but will closely monitor the environment and adjust accordingly,” she said.
Read more: http://www.foxbusiness.com/industries/2012/01/17/exclusive-more-layoffs-at-morgan-stanley-may-be-on-horizon/
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